Global Payments (GPN) is raising $6.2 billion through a four-part investment-grade bond offering to finance its purchase of the remaining 55% stake in Worldpay, Bloomberg reported Thursday, citing a person familiar with the matter.
* Signs of US labor market weakening push yields lower. * Government shutdown affecting economic outlook, data availability. * Supreme Court decision on tariffs may influence Treasury market. By Davide Barbuscia.
Cleveland Fed President Beth Hammack said that inflation remains high, arguing against a further rate cut and saying that monetary policy remains only "barely restrictive."
* Indexes down: Dow 0.58%, S&P 500 0.76%, Nasdaq 1.37% * AI-related stocks show market's tech reliance, SOX index down 1.6% * Challenger reports 183.1% surge in layoffs, worst October in two decades. * DoorDash (DASH) slides after quarterly revenue miss. By Stephen Culp.
* Loonie trades in a range of 1.4091 to 1.4140. * Price of US oil decreases 0.4% * Ivey PMI falls to 52.4 in October. * Bond yields decline across the curve. By Fergal Smith. The Canadian dollar was on the cusp of ending a five-day losing streak on Thursday as signs of weakness in the U.S. labor market led to broad-based declines for the greenback.
Shares of Rocket Lab Corp (RKLB) are trading lower Thursday afternoon, moving in line with a broader market sell-off. What To Know: Major indexes are down after Federal Reserve official Austan Goolsbee expressed uncertainty about future rate cuts. The macro-driven pullback comes despite positive company-specific news.
The Bank of Mexico lowered its benchmark interest rate by 25 basis points on Thursday, bringing the rate to 7.25%. The decision by the central bank's five-member governing board was not unanimous, the bank said in a statement announcing the rate decision, with Deputy Governor Jonathan Heath voting to hold the rate at its previous 7.50% level.
Gold edged higher midafternoon on Thursday as the dollar fell off a six-month high and treasury yields retreated. Gold for December delivery was last seen up US$3.00 to US$3,995.90 per ounce.
Financial stocks were decreasing in Thursday afternoon trading, with the NYSE Financial Index easing 0.3% and the Financial Select Sector SPDR Fund down 0.6%. The Philadelphia Housing Index was shedding 0.7%, and the Real Estate Select Sector SPDR Fund was decreasing 0.2%. Bitcoin was declining 2.4% to $101,421, and the yield for 10-year US Treasuries was dropping 7.4 basis points to 4.08%. In ...
Brazil's trade surplus jumped 70.2% in October from the same month last year, official data showed on Thursday, beating economists' estimates. Latin America's largest economy posted a $7 billion trade surplus for October, above the $6.2 billion expected by economists polled by Reuters.
US equity indexes fell midday Thursday, led by the consumer discretionary and technology sectors, after a labor market report showed the highest number of recorded layoffs in October in more than two decades, sending government bond yields tumbling.
Financial stocks were decreasing in Thursday afternoon trading, with the NYSE Financial Index easing 0.3% and the Financial Select Sector SPDR Fund down 0.6%. The Philadelphia Housing Index was shedding 0.7%, and the Real Estate Select Sector SPDR Fund was decreasing 0.2%. Bitcoin was declining 2.4% to $101,421, and the yield for 10-year US Treasuries was dropping 7.4 basis points to 4.08%. In ...
Bridging the Dream Scholarship Program Provides $10,000 in Scholarships to 40 High School and 10 Graduate Students Nationwide In celebration of National Scholarship Month, Sallie Mae today announced the newest recipients of its Bridging the Dream Scholarship Program.
-Federal Reserve Governor Stephen Miran says he expects the U.S. central bank to cut interest rates in December, despite the number of non-voting policymakers who may not want to. "I expect us to cut in December unless there's some sort of surprise," Miran told the Monetary Matters podcast.
Federal Reserve Bank of Cleveland President Beth Hammack said Thursday she's concerned monetary policy may not be in the right place to deal with current inflation.
-Crypto giant Ripple supports the idea of a "skinny" Federal Reserve payments account for non-banks, which could still be a game changer while addressing banks' concerns over financial stability and competition risks, a top company executive said.
* Ripple is seeking Fed master account for stablecoin reserves. * Crypto company said 'skinny' account idea is attractive. * Wall Street banks fear fintech access could destabilize system. By Hannah Lang.
-U.S. retailers are bracing for a subdued holiday shopping season this year as the economic fallout from President Donald Trump's erratic trade policies leaves?shoppers more cautious about buying extravagant gifts.
-The independence of the Federal Reserve is "incredibly important" not just for the U.S. economy but also for the global economy because it is what allows the U.S. central bank to control inflation without regard to short-term political consequences, New York Fed President John Williams said on Thursday.
Statistics Canada released the provincial gross domestic product numbers for 2024 that suggest investors will see some "chunky" upward revisions to growth -- on the order of half a percentage point per year from 2022 to 2024 -- when the national figures are published later this month, said Bank of Montreal.
The European stock markets closed lower in Thursday trading as the Stoxx Europe fell 0.72%, Germany's DAX lost 1.27%, the FTSE 100 dropped 0.42%, France's CAC declined 1.36%, and the Swiss Market Index was down 0.52%. The eurozone construction sector activity continued to decline in October as the HCOB Eurozone Construction PMI Total Activity Index fell to 44.0 in October from 46.0 in September.
* Sterling shuffles higher as BoE holds rates in tight call. * Wall Street stock indexes lower. * US dollar falls against major currencies. By Caroline Valetkevitch and Marc Jones. Major stock indexes fell sharply on Thursday, with technology and consumer discretionary shares leading losses in the S&P 500, while the British pound firmed after the Bank of England opted against an interest rate cut.
* FTSE 100 down 0.4%, FTSE 250 falls 0.5% * Bank of England holds rates in knife-edge vote. * AstraZeneca's (AZN) gains on strong Q3 profit. * Sainsbury's (JSNSF) rises after lifting FY profit outlook.
* Revelio Labs data shows job losses in October, including in the government sector. * AI and cost-cutting drive surge in planned layoffs, Challenger reports. * Chicago Fed estimates unemployment rate rose to 4.36% in October. By Lucia Mutikani.
The Czech central bank Thursday said its Board kept interest rates unchanged, with the two-week repo rate at 3.50%, the discount rate at 2.50% and the Lombard rate at 4.50%. This decision was expected by market analysts, noted ING.
Bank of Canada's Senior Deputy Governor said on Thursday that the central bank will be reducing its workforce by around 230 people as part of a drive to reduce expenses. "We will be reducing our overall expenses by 15%, and part of that will be a reduction in workforce," Carolyn Rogers told a senate committee during a testimony.
Talks between Ukraine and holders of its GDP warrants have broken down for a second time in six months, the government said on Thursday, adding another delay to its hopes of restructuring the $3.2 billion worth of bond-like instruments.
Cleveland Federal Reserve President Beth Hammack said on Thursday ongoing high levels of inflation argue against the U.S. central bank cutting interest rates again. "I remain concerned about high inflation and believe policy should be leaning against it," Hammack said in the text of a speech to be delivered to an Economic Club of New York event.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.22%. ?This week the 30-year fixed-rate mortgage averaged 6.22%. On a median-priced home, this could allow a homebuyer to save thousands annually compared to earlier this year, showing that affordability is slowly improving,? said Sam Khater, Freddie Mac?s Chief Econo...
* S&P to publish ratings review for Poland on Friday. * Fitch and Moody's already changed ratings outlook to 'negative' * Political standoff hampers consolidation measures, agencies say. By Karol Badohal.
-U.S. holiday sales are expected to surpass $1 trillion for the first time, the National Retail Federation said on Thursday, though growth is forecast to slow as economic pressures weigh on consumer sentiment. The holiday season includes major shopping days such as Thanksgiving, Black Friday, Cyber Monday and Christmas, and accounts for a significant portion of major retailers' revenues.
BOE Deputy Governor Sarah Breeden tied the need to impose caps on stablecoin holdings to the U.K.'s mortgage market, which relies on commercial bank lending.
* US Treasury yields drop on concerns over the US economy. * BoE keeps rates unchanged, expected to deliver a cut in December. * Markets see ECB key rate steady through early 2027. By Stefano Rebaudo. Euro zone benchmark Bund yields dropped from their four-week high on Thursday, taking the lead from U.S. Treasuries after the Bank of England decided to keep rates on hold.
US job cut announcements surged in October, Challenger Gray & Christmas said Thursday, as the ongoing government shutdown -- now the longest in the country's history -- is likely to delay Friday's nonfarm payrolls report. US-based employers announced 153,074 job cuts last month, up 183% sequentially and 175% annually, the global outplacement firm said.
Growth in total assets, particularly from gross loans and cash reserves, drove net interest income expansion
* INVESTMENT STRATEGY - Investment of excess reserves into municipal securities with ...
U.S. stocks closed in negative territory on Thursday, with a resumption of Tuesday's tech selloff as investors contended with mounting economic uncertainty and stretched valuations. All three major U.S. equity indexes lost ground as risk appetite was dampened by worries over inflated stock prices, particularly from artificial intelligence-related momentum shares.
Canadian economic activity expanded at a slower pace in October as a measure of prices edged higher, Ivey Purchasing Managers Index data showed on Thursday. The seasonally adjusted index fell to 52.4 last month from 59.8 in September. The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada.
* Signs of US labor market weakening push yields lower. * Government shutdown affecting economic outlook, data availability. * Supreme Court decision on tariffs may influence Treasury market. By Davide Barbuscia.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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